Section 7-6.9. Manner of creating custodial property and effecting transfer;

designation of initial custodian; control
    (a) Custodial property is created and a transfer is made whenever:
    (1) an uncertificated security or certificated security in  registered
  form is either:
    (i)  registered in the name of the transferor, an adult other than the
  transferor, or a trust company, followed in substance by the words:  "as
  custodian for _______________________ (name of minor) under the New York
  Uniform Transfers to Minors Act"; or
    (ii) delivered, if in certificated form, or any document necessary for
  the  transfer  of an uncertificated security is delivered, together with
  any necessary endorsement, to an adult other than the transferor or to a
  trust  company,  as  custodian,  accompanied   by   an   instrument   in
  substantially the form set forth in paragraph (b);
    (2)  money  is  paid or delivered, or a security held in the name of a
  broker, financial institution, or  its  nominee  is  transferred,  to  a
  broker  or financial institution for credit to an account in the name of
  the transferor, an adult other than the transferor, or a trust  company,
  followed    in    substance    by   the   words:   "as   custodian   for
  _____________________  (name  of  minor)  under  the  New  York  Uniform
  Transfers to Minors Act";
    (3)  the  ownership of a life or endowment insurance policy or annuity
  contract is either:
    (i) registered with the issuer in the name of the transferor, an adult
  other than the transferor, or a trust company, followed in substance  by
  the  words:  "as  custodian  for  ______________________ (name of minor)
  under the New York Uniform Transfers to Minors Act"; or
    (ii) assigned in a writing  delivered  to  an  adult  other  than  the
  transferor,  or  to  a  trust  company  whose  name in the assignment is
  followed in substance by the words:  "as custodian for _________________
  (name of minor) under the New York Uniform Transfers to Minors Act";
    (4)  an  irrevocable  exercise  of  a  power  of  appointment  or   an
  irrevocable  present  right  to  future  payment under a contract is the
  subject of a written notification delivered to  the  payor,  issuer,  or
  other  obligor that the right is transferred to the transferor, an adult
  other than the transferor,  or  a  trust  company,  whose  name  in  the
  notification  is  followed in substance by the words:  "as custodian for
  _____________________  (name  of  minor)  under  the  New  York  Uniform
  Transfers to Minors Act";
    (5)  an  interest  in  real  property  is  recorded in the name of the
  transferor, an adult other than the  transferor,  or  a  trust  company,
  followed    in    substance    by   the   words:   "as   custodian   for
  ______________________ (name  of  minor)  under  the  New  York  Uniform
  Transfers to Minors Act";
    (6) a certificate of title issued by a department or agency of a state
  or  of  the  United  States  which  evidences title to tangible personal
  property is either:
    (i) issued in the name of the transferor,  an  adult  other  than  the
  transferor,  or a trust company, followed in substance by the words: "as
  custodian for __________________ (name of  minor)  under  the  New  York
  Uniform Transfers to Minors Act"; or
    (ii)  delivered  to  an  adult other than the transferor or to a trust
  company, endorsed to that person followed in substance by the words: "as
  custodian for ___________________________ (name of minor) under the  New
  York Uniform Transfers to Minors Act"; or
    (7)  an  interest  in  any property not described in subparagraphs (1)
  through (6) is transferred to an adult other than the transferor or to a

  trust company by a written instrument  in  substantially  the  form  set
  forth in paragraph (b).
    (b)  An instrument in the following form satisfies the requirements of
  clause (ii) of subparagraph (1) and subparagraph (7) of paragraph (a):
                    "TRANSFER UNDER THE NEW YORK UNIFORM
                           TRANSFERS TO MINORS ACT
    I, __________________ (name of transferor or name  and  representative
  capacity  if  a  fiduciary) hereby transfer to ________________ (name of
  custodian), as custodian for ________________ (name of minor) under  the
  New  York  Uniform  Transfers  to  Minors  Act, the following: (insert a
  description of the custodial property sufficient to identify it).
  Dated: _____________________
         __________________________________
              (Signature)
  _________________________ (name of custodian)  acknowledges  receipt  of
  the  property  described  above  as  custodian for the minor named above
  under the New York Uniform Transfers to Minors Act.
  Dated: _____________________
         _________________________________"
             (Signature of Custodian)
    (c) A transferor shall place the custodian in control of the custodial
  property as soon as practicable.